The World Bank (WB) will definitely say no to any loans asked by the Vietnamese government for the preparations for the 18th Asian Games (ASIAD), which Vietnam plans to host in 2019, Victoria Kwakwa, WB’s country director for Vietnam, said at a conference on April 7.
Ms. Kwakwa responded to questions raised by reporters whether the WB is funding Vietnam for building stadiums or other sports venue constructions serving the ASIAD at the conference releasing the East Asia Pacific Economic Update Report in Hanoi on April 7. She said that the Vietnamese government would not ask the WB for funding in such a field and that it would make a right decision on choosing to or not to host the event. The WB said in its latest report that the government of Vietnam faces rising credit difficulties caused by falling state budget collection.
Many newspapers have covered the news on the WB’s affirmation following strong protest against the ASIAD among Vietnam’s officials and locals. Regarding the ASIAD, a number of lawmakers and officials have opposed hosting it, saying that the event would cost Vietnam at least ten times the planned budget of $150 million as reported by the Ministry of Information and Communications.bOn state-run newswires and social networks, the majority of people have protested the event, calling on the government to withdraw to avoid incurring further debts. Local experts said that a country should only host the ASIAD if it has both economic and sports power. Vietnam’s per capita income is around $1,500. The communist country won only one gold medal at the 16th ASIAD in 2010. Economist Nguyen Minh Phong said that hosting the ASIAD would benefit merely a group of people while leaving a huge financial burden on the country. The government will decide whether it is hosting the event this week. (Thesaigontimes.vn April 7, Vneconomy.vn April 6, Kienthuc.net.vn April 7)